IMAC Holdings, Inc. (BACK): Nasdaq/NYSE listing notice — IMAC Holdings gets Nasdaq deficiency notice for stockholders' equity of $996,955 vs $2.5M minimum

IMAC Holdings, Inc.

Stockholders' equity of $996,955 as of March 31, 2023, below the required $2.5M minimum.
Also not in compliance with Nasdaq's $1.00 minimum bid price requirement.
Company has 45 days (until July 17, 2023) to submit a plan to regain compliance.
If plan accepted, Nasdaq may grant an extension to November 26, 2023; no immediate delisting.
No assurance that Nasdaq will accept the plan or that compliance can be regained.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 1.0

IMAC Holdings, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

May 31, 2023, the Company received a letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market under Listing Rule 5550(b)(1) because the Company’s stockholders’ equity of $996,955, as reported in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2023, was below the required minimum of $2.5 million, and because, as of May 30, 2023, the Company did not meet the alternative c

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19 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

IMAC Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-020010

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